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Earnings (Loss) Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share | Earnings (Loss) Per Share Basic earnings (loss) per share (“EPS”) is computed based on the weighted average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution resulting from the impact of common shares issuable upon the exercise of stock options, non-vested performance share units, non-vested restricted stock units, non-vested restricted stock, and conversion of preferred stock. In loss periods, the impact of common shares issuable upon the exercises of stock options, non-vested performance share units, non-vested restricted stock units, non-vested restricted stock, and conversion of preferred stock are excluded from the calculation of diluted loss per share, as the inclusion of common shares issuable upon the exercise of stock options, non-vested performance share units, non-vested restricted stock units, non-vested restricted stocks, and conversion of preferred stock would have an anti-dilutive effect. The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted earnings (loss) per share computations for the periods presented (in thousands, except per share data):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator for EPS: |  |  |  |  |  |  |
Net income (loss) | $ | (16,163) |  |  | $ | (5,915) |  |  | $ | 52,910 |  |  | $ | 46,824 |
Less: Preferred stock dividends | (3) |  |  | (3) |  |  | (8) |  |  | (8) |
Income (loss) available to common stockholders | $ | (16,166) |  |  | $ | (5,918) |  |  | $ | 52,902 |  |  | $ | 46,816 |
Denominator for EPS: |  |  |  |  |  |  |
Weighted average common shares outstanding | 28,355 |  |  | 29,617 |  |  | 28,607 |  |  | 30,087 |
Plus: Assumed conversion of share-based compensation (1) | — |  |  | — |  |  | 685 |  |  | 266 |
Assumed conversion of preferred stock | — |  |  | — |  |  | 25 |  |  | 25 |
Weighted average diluted common shares outstanding | 28,355 |  |  | 29,617 |  |  | 29,317 |  |  | 30,378 |
Basic earnings (loss) per common share | $ | (0.57) |  |  | $ | (0.20) |  |  | $ | 1.85 |  |  | $ | 1.56 |
Diluted earnings (loss) per common share | $ | (0.57) |  |  | $ | (0.20) |  |  | $ | 1.80 |  |  | $ | 1.54 |
(1) |  | Represents the dilutive effect of common shares issuable upon the exercise of stock options, non-vested performance share units, non-vested restricted stock units and non-vested restricted stock.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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